Boston, MA 03/14/2014 (wallstreetpr) – Ebix Inc (NASDAQ:EBIX) is a provider of E-Commerce and On-Demand services for the insurance market. The company’s services include end-to-end solutions such as carrier systems, agency systems, infrastructure exchanges, custom software development and BPO services. These products and services suit all entities in the insurance marketplace.
The company has more than 35 office locations spread across many countries including Singapore, Australia, Brazil, Canada, U.S. and New Zealand.
The insurance solutions provided by Ebix Inc (NASDAQ:EBIX) have application in annuity, life, health and property and casualty insurance fields.
The company has just released strong results for the fourth quarter and fiscal 2013, all of which go beyond excitement to reveal the underlying strength in the company and its respected management in place.
Latest performance data
Ebix Inc (NASDAQ:EBIX) announced that total revenue in the fourth quarter was $50.8 million, a decrease of 6 percent year-over-year. Yet, sequentially it was an increase of $0.55 million. The fall in revenue year-over-year was due to the roughly $1.4 million arising from the strengthening U.S. dollar against foreign currencies. In full-year 2013, Ebix Inc (NASDAQ:EBIX) reported $204.7 million, an increase of 2.7 percent against $199.4 million realized in 2012.
Earnings in the fourth quarter came in at 40 cents per diluted share, a decrease of 17 percent from 48 cents in the fourth quarter of 2012. In the latest EPS calculation, an average of 38.5 million in outstanding diluted shares was factored in. That compared with 38.9 million outstanding diluted shares during the same quarter of 2012.
On a sequential basis, EPS was up 40 cents against 34 cents in the fourth and third quarter respectively.
For the full-year 2013, EPS was down 15 percent year-over-year to $1.53 from $1.80 in the previous year. In the year in review, EPS was calculated with an average of 38.6 million outstanding diluted shares. That compared with an average of 39.1 million diluted shares used in the EPS calculation in fiscal 2012.
Financial position
With a mixed earnings data, yet largely encouraging, Ebix Inc (NASDAQ:EBIX) reported that it ended the fourth quarter with $19.3 million in cash generated through operations. That was up 5 percent on year-over-year basis. As for the full-year 2013, operating cash flow came in at $57.1 million, reflecting a decline of 21 percent from the $72.3 million in 2012.
